Re Shandys question

“EURUSD – how does this look for a Push / Pull formation, context is it has broken out of the previous upward channel and previous Support has now turned Resistance, the re-test of which produced the 1,2,3 candle formation. And 1hr looked to have produced a nice bearish engulfing bar right at the 1.3615 trigger line?”

At this point if you had taken the trade then you would have been stopped out but that is not the issue, it’s Friday afternoon, you don’t want to take a trade just before the weekend.  If a trade sets up on Friday then I wait until Sunday Night/Monday to see if there is another opportunity.  But well done Mark you are starting to see trades.  Just one point, if possible I like to see a bit more confirmation on the hourly chart, a trend line break or break of support or resistance zone.  I like to see that there has been a bit of a struggle at that level.

update, having just taken a closer look at that chart on the monthly and weekly time frames you can see that the trade is conflicting with weekly trend lines and a monthly Push-Pull level.  I put how to mark up the lines in my book High ROI Scalping but the templates are available for download from the High ROI Scalping page of this blog.

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